Here’s why HedgeTrade (HEDG), The Graph (GRT) and UMA are rallying

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Bitcoin (BTC) has been consolidating for the past few days as the bulls and the bears battle it out for control over the largest cryptocurrency by market capitalization.

Currently, Bitcoin looks like it is steadily losing its upward momentum but Vailshire Capital Management founder and CEO Jeff Ross has maintained his bullish stance and believes the uncertainty will resolve to the upside. 

Crypto market data daily view. Source: Coin360

While Bitcoin consolidated, the action shifted to Ether (ETH), which made a new all-time high, eclipsing its 2018 high at $1,428. This suggests that the crypto markets remain in a firm bull grip.

The rally from the leaders is usually followed by strong breakouts from tokens that are likely to benefit in the current environment or have come up with positive developments that have caught trader’s attention.

Let’s inspect the possible fundamental and technical reasons for the rally in the three tokens selected today.